Rocky Mount, North Carolina Housing Market Prices
Rocky Mount Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 70% below the North Carolina median$84,518
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Median rent 21% below the North Carolina median$970
Housing Market Overview
| Metric | Rocky Mount | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,518 | $278,288 | $248,835 |
| Price Trend (Annual %) | 0.5% | 9.3% | 7.5% |
| Median Gross Rent | $970 | $1,227 | $1,407 |
| Rent Trend (Annual %) | 3.5% | 5.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Rocky Mount is about 70% lower than in North Carolina. Rent is about 21% lower than the North Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Rocky Mount, up about 0.5% and 3.5% a year respectively. Rent is changing faster.
Median rent in Rocky Mount rose about 27.2% between 2015 and 2024, from $763 to $970. Over the same span, rent in North Carolina rose about 54.2%.
Affordability
On average, housing unit costs 1.5 yearly household incomes in Rocky Mount.
Buying the median-priced home in Rocky Mount costs roughly 7.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rocky Mount. The price-to-rent ratio in North Carolina is about 18.9.
| Metric | Rocky Mount | North Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $84,518 | $278,288 | $248,835 |
| Median Household Income | $55,511 | $72,438 | $80,455 |
| Price-to-Income Ratio | 1.5 | 3.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Rocky Mount rose about 50.0%, while median household income rose about 36.8% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Rocky Mount | North Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.9% | 58.3% | 58.5% |
| Rental Rate | 46.7% | 29.2% | 31.2% |
| Vacancy Rate | 12.4% | 12.5% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Rocky Mount has a homeownership rate of 40.9%, lower than the North Carolina average of 58.3%. Its housing vacancy rate is 12.4%, compared with 12.5% in North Carolina.
Housing Stock
| Metric | Rocky Mount | North Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.28 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1975 | 1989 | 1978 |
| Median Number of Rooms | 5.1 | 5.6 | 5.5 |
The typical housing unit in Rocky Mount was built around 1975. On average, 2.3 people live in a home with about 5.1 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Rocky Mount, North Carolina.
What is the median home price in Rocky Mount, North Carolina?
The median home price in Rocky Mount, North Carolina is $84,518, lower than the North Carolina average of $278,288.
What is the average home price in Rocky Mount, North Carolina?
The typical home price in Rocky Mount, North Carolina, reported as the median sale price, is $84,518. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Rocky Mount, North Carolina?
The median gross rent in Rocky Mount, North Carolina is $970 per month, lower than the North Carolina average of $1,227.
What was the median gross rent in Rocky Mount in 2020?
In 2020, the median gross rent in Rocky Mount, North Carolina was $789 per month.
What is the price-to-rent ratio in Rocky Mount, North Carolina?
The price-to-rent ratio in Rocky Mount, North Carolina is about 7.3, meaning it would take roughly 7.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Rocky Mount.
Are home prices or rent rising faster in Rocky Mount, North Carolina?
Both home prices and rent are rising in Rocky Mount, up about 0.5% and 3.5% a year respectively. Rent is changing faster.
What is the homeownership rate in Rocky Mount, North Carolina?
40.9% of households in Rocky Mount, North Carolina own their home, lower than the North Carolina average of 58.3%.
What is the vacancy rate in Rocky Mount, North Carolina?
The housing vacancy rate in Rocky Mount, North Carolina is 12.4%, lower than the North Carolina average of 12.5%.
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